Economy

Thursday, June 5th 2008 - 21:00 UTC
Euro interest rates unchanged;increase “possible” next time

The European Central Bank (ECB) left interest rates for the Euro zone unchanged at 4% but admitted an increase was “possible” at its next meeting because risks to price stability over the medium term have further increased.
Thursday, June 5th 2008 - 21:00 UTC
In spite of slowdown UK interest rate left on hold at 5%

The Bank of England Monetary Policy Committee, MPC, decided Thursday to hold interest rate at 5%. The decision had been widely expected amid concerns about the pace of inflation.
Thursday, June 5th 2008 - 21:00 UTC
With Argentina blocked, Brazil has record soy exports

Brazilian soybean exports reached a record 4.44 million tons in May, up from the 3.34 million in April and 3.15 million in May 2007, as farmer protests cut shipments from Argentina, according to grain and oilseed traders.
Thursday, June 5th 2008 - 21:00 UTC
Brazil raises rate to 12.25%; annual May inflation 5.25%

Brazil's Central bank raised its benchmark interest rate this week for the second time in less than two months to curb resurgent inflation and prevent overheating of the world's tenth biggest economy.
Thursday, June 5th 2008 - 21:00 UTC
May marks highest monthly inflation in Chile since 1994

Chile's Consumer Price Index soared 1.2% in May, far above forecasts (0.6%), and the highest since May 1994 (1.4%) and also the most significant monthly variation since March 2003, according to the country's Statistics Office.
Thursday, June 5th 2008 - 21:00 UTC
Church calls for “greatness gesture” in farmers' conflict

The Permanent Commission of the Argentine Episcopal Conference called on Thursday for a “gesture of greatness” from the government and the farmers to help put an end to the three month long conflict which is rapidly becoming into a serious confrontation and threatens “social peace”.
Wednesday, June 4th 2008 - 21:00 UTC
UN program promises 1.2 billion food aid for 62 countries

The United Nations World Food Programme said on Wednesday that it will provide 1.2 billion US dollars in additional food aid in the 62 countries hit hardest by the current crisis resulting from the surge in food and fuel prices.
Wednesday, June 4th 2008 - 21:00 UTC
Bernanke confirms inflation is the Fed's main concern

Federal Reserve Chairman Ben Bernanke said Wednesday that long term inflationary expectations are concerning but he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.
Wednesday, June 4th 2008 - 21:00 UTC
Chilean truckers strike 48 hours to demand fuel relief

Despite Chilean President Michelle Bachelet's announcement of a one billion US dollars subsidy boost, Chile's Confederation of Truck Drivers, CNDC, said that demands for fuel tax relief have not been met.
Tuesday, June 3rd 2008 - 21:00 UTC
Brazil to sell Super Tucano light attack planes to US

Brazilian aircraft manufacturer Embraer is participating in preliminary negotiations to sell the U.S. government eight 314-B1 Super Tucano light attack and training planes for use in Iraq, the company said Monday, according to press reports from Brazil.